This certainly becomes a finger pointing activity in some transactions. And why? Folks look to the contract to see who agreed to pay for what. Make sense. Or does it?
Since I’ve seen this aspect of a contract create delays, I’ve taken a different approach. HOA documents are a disclosure – a seller’s responsibility. Don’t worry in advance if the buyers agree to pay for it or not. Just have the sellers get it upfront, and be reimbursed at close of escrow.
Some expect title to take the initiative, as that’s what they’ve done in the past. But things have changed. Many HOA’s now have online ordering systems where a credit card can be used to get documents and immediate access. Title doesn’t have your client’s credit card info, so they can’t proceed. The buyer’s agent is expecting the sellers to provide this disclosure. Meanwhile, the seller’s agent figures that the buyer will go online, or trot down to the Property Management company with a check to make it happen. Why let your allotted timelines click on by without getting this resolved?
Is title responsible? In my opinion no. They aren’t part of the contract. Can they do it? Not if it requires a credit card to actually order the documents!
Don’t let these niggling details delay your transaction. Listing agents – just get it done by your seller and get reimbursed through escrow. Buyer’s agents – verify that it’s been done. I’ve seen transactions delayed while this gets sorted out. As Larry the Cable Guy says, “Git ‘er done!”
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